Today, Life Insurance Corporation of India (LIC) announced that it increased its stake in Deepak Nitrite to 5.028 per cent from 4.977 per cent. The company has bought 70,087 equity shares at an average cost of Rs 2,074.49 with an open market purchase. In Deepak Nitrite, the holding stake of LIC crossed five per cent on28 September 2022.

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Deepak Nitrite company is one of the leading suppliers of chemical intermediates, having a diversified portfolio of intermediates that cater to dyes and pigments, textiles, home, personal care, agrochemical, plastics, paper, and pharmaceuticals in India and overseas.

For more than 65 years, LIC has provided life insurance to customers all over the country. LIC shares debuted on the bourses on 17 May 2022. The stock was listed at Rs 867.20, representing an 8.62 per cent discount from the issue price of Rs 949. On the BSE, LIC was up 0.16 per cent at Rs 620.30 while Deepak Nitrite rose 0.41 per cent to Rs 2,016.20.